JAKARTA. PT Damai Sejahtera Abadi Tbk (UFOE), a retail company under the brand UFO Elektronika, has converted debts of its subsidiary, PT Universal Joyo Lestari (UJL), to additional capital.
Lina Ariawati Jarijono, Corporate Secretary of UFOE, mentioned that UJL’s debts that were being converted amounted to IDR 18.81 billion. This additional capital investment would not alter the share portion of UFOE in UJL, as this portion increase was followed by extra paid-up capital investments made by other shareholders.
“The ownership percentage of the company in UJL remains 99%,” Harijono confirmed in the information disclosure in Indonesia Stock Exchange earlier today (6/1).
With these converted debts, the total amount of affiliated accounts receivables of UFOE decreased by IDR 18.81 billion. Harijono added that this conversion would improve the debt to equity ratio of UJL.
From January to September (9M) 2021, UFOE recorded sales of IDR 516.33 billion, while the net profit reportedly reached IDR 7.99 billion. (KR/ZH)